BlackRock is officially listing a Bitcoin exchange-traded product in Europe

According to Bloomberg, the new ETP, called iShares Bitcoin ETP, will begin trading on Tuesday on Xetra and Euronext Paris under the ticker IB1T

BlackRock, Inc. (NYSE:BLK) is introducing its iShares Bitcoin ETP (exchange-traded product) on Xetra and Euronext Paris on Tuesday, marking the firm’s first crypto ETP outside of North America.

The new ETP, which will trade under the ticker IB1T and begin trading in Amsterdam under BTCN, follows the successful launch of BlackRock’s U.S. Bitcoin fund. Having no startup fee, the iShares Bitcoin Trust launched in January with a 10-basis point tempory fee, cutting the e xpense ratio to 0.15% until the end of 2025. Afterward, it will return to 0.25%, matching the fee of CoinShares’s $1.3 billion physical Bitcoin product, which currently leads the European market in assets.

The iShares Bitcoin ETP will be physically backed by Bitcoin and held by Coinbase (NASDAQ:COIN) Global Inc (NASDAQ:COIN), with the product available to both institutional clients and qualified retail investors. It will be issued through a Swiss-based special purpose vehicle.

Manuela Sperandeo, who leads iShares Product for Europe and the Middle East at BlackRock, said the firm is seeing interest in crypto rising across the board.

“It reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold,” Manuela said.

Even though Bitcoin ETPs have been present in Europe for several years now, the market is still relatively small, with around $13.6 billion in total assets across various products. In comparison, the U.S. saw crypto ETPs explode after the Securities and Exchange Commission approved several spot Bitcoin ETFs.

BlackRock’s U.S. version, the iShares Bitcoin Trust, reached $48 billion in assets in a little over a year, quickly becoming a hot topic. Meanwhile, the European launch comes after months of anticipation and silent buildup.

The European expansion also comes as BlackRock is reporting record financial results. In the fourth quarter of 2024, the firm’s assets under management reached $11.6 trillion, up from $11.48 trillion in Q3 and $10.01 trillion the year before, breaking company records. The firm also saw a 21% jump in profits, closing the quarter with $1.67 billion in net income, or $10.63 per share, compared to $1.38 billion, or $9.15 per share, a year earlier.

Long-term net inflows in Q4 reached $201 billion, while total net inflows came in at $281.4 billion, more than doubling from $95.6 billion in the fourth quarter of the previous year. The majority of that went into ETFs, which brought in $142.6 billion, and fixed-income products, which received $23.8 billion.

The growth is being credited to strong market performance and client momentum, especially after Donald Trump’s presidential win in November 2024, which sparked a U.S. stock market rally on anticipation of tax cuts and deregulation.

The company’s buying spree also played a role in its expanding influence. In 2024 alone, BlackRock spent roughly $25 billion acquiring Global Infrastructure Partners, an infrastructure fund, and HPS Investment Partners, a private credit firm. Those deals pushed the firm deeper into private markets, where growth has been outpacing traditional public investments.

Larry Fink, BlackRock’s CEO, had interesting observations on how clients are responding to the firm’s aggressive moves.

“For many companies, periods of M&A contribute to a pause in client engagement. At BlackRock, clients are instead embracing and rewarding our strategy,” Larry said in a statement last year.

The company’s performance was also aided by market tailwinds. The S&P 500 ended Q4 with a 2.1% gain, wrapping up the year with a 23.3% rise—two years of 20%-plus returns. On the global side, the MSCI index for world stocks dropped 1.2% in Q4 but still climbed 15.7% over 2024, marking a second year of gains.